Advanced analytics help companies provide valuable insights to the existing data. The advanced analytics market tools help identify this hidden information which can then be used by organizations to provide valuable insights to the customers which can be used for customized market offerings. Advanced analytics helps organizations to mitigate risks which drive consumer loyalty.

Major factors for growth of advanced analytics are:

Deployment of solutions over cloud.

Increasing demand to tackle big data challenges.

Increase in need of vertical specific solutions.

Advanced analytics solutions requirements in emerging economies.

Availability of advanced analytics solutions over the cloud has reduced the cost, attracting new customers who were initially refraining from them due to higher costs. Small and medium enterprises are also using advanced analytics due to reduction of prices, which has increased the number of customers who want to use these solutions. Emerging economies on the other hand are demanding advanced analytics to drive their business forward as well as drive customer loyalty.

The advanced analytics market is witnessing emergence of niche players which are focused on giving specific solutions to the verticals. The emergence of Statsoft, Angoss, Knime has seen niche players providing solutions, which are low cost as compared to solutions from big players such as SAP, SAS providing these solutions and end users adopting these solutions has seen major players also on focusing on developing solutions which are specific to verticals.